Sentry Investment Management LLC Makes New $510,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Sentry Investment Management LLC purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,804 shares of the technology company’s stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lecap Asset Management Ltd. bought a new position in shares of GoDaddy during the 4th quarter valued at $2,328,000. Louisiana State Employees Retirement System bought a new position in GoDaddy in the 4th quarter worth $4,204,000. WCM Investment Management LLC raised its holdings in GoDaddy by 13.5% in the 4th quarter. WCM Investment Management LLC now owns 84,010 shares of the technology company’s stock worth $8,935,000 after acquiring an additional 9,963 shares during the period. Simplicity Solutions LLC raised its holdings in GoDaddy by 5.1% in the 4th quarter. Simplicity Solutions LLC now owns 16,636 shares of the technology company’s stock worth $1,766,000 after acquiring an additional 812 shares during the period. Finally, Ingalls & Snyder LLC raised its holdings in GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after acquiring an additional 120 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,234 shares of company stock worth $13,534,946. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GDDY shares. Raymond James started coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 target price on the stock. Morgan Stanley lifted their target price on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Piper Sandler lifted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $124.00 price target on shares of GoDaddy in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.18.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $121.42 on Tuesday. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50-day simple moving average is $116.78 and its 200-day simple moving average is $102.12. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The firm has a market cap of $17.30 billion, a P/E ratio of 12.67 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, research analysts expect that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.